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Elliott Wave Analyst

EUR/USD: possible wedge in wave (a)

EUR/USD: possible wedge in wave (a)

We’ve got a pullback from 5/8 Murrey Math Level (P=200), so there’s an opportunity to have wave [y] of D in the short term. Also, there’s a zigzag in wave [x]. So, bears are likely going to reach 1/8 MM Level soon.

EUR/USD: possible wedge in wave (a)

As we can see on the one-hour chart, there’s a possible wedge in wave (a). Previously, a pullback from 7/8 MM Level happened, which led to form a bearish impulse in wave i. Therefore, it’s likely to see wave v of (a) shortly.

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